Asset Building & Financial Management Program, ABFMP

Mission:

To empower clients with knowledge and skills in personal finance, and to help them successfully create pathways to financial well-being.

Overview:

Established in 2013, the Chinatown Service Center Asset Building and Financial Management Program (Program) aims to provide financial management classes and individualized case management services to low-to-moderate income individuals and families living in the greater Los Angeles area. Our primary focus is to offer practical advice in financial management and planning. Clients will better understand their financial situations, apply gained knowledge to resolve financial issues, and build financial capacity.

Services:

Free financial management classes

Engage participants in learning and discussion on various financial topics on how to make sound financial decisions. A series of workshops are regularly conducted at the Parent Centers in targeted schools to help families develop their knowledge around budgeting, saving, credit and debt management, college financial aid, and more.

Free financial coaching and case management

Case Managers work one-on-one with clients to set objectives and goals for their specific needs, and to develop action plans to help them change behavior and resolve financial issues.

The Program has grown rapidly since it established, and has successfully partnered with public and private organizations to provide asset building and financial management service to the community. With continued support from various agencies, we contribute to the works of helping low-income individuals and families to start a path to upward mobility.

CASTELAR ELEMENTARY SCHOOL'S OPEN-HOUSE

On March 23rd, 2017, CSC's Case Manager Vanessa Garcia promoted CSC services and shared the financial management and credit building information to the Castelar Elementary School's parents and participants.

Financial free session

On January 26, 2017, CSC conducted a workshop together with and at the Housing Authority of the City of Los Angeles:(1). The workshop was designed to help the participants of the Family Self-Sufficiency Program (FSSP) to take control of their finances. (2). The workshop provided FSSP’s participants knowledge on personal finance, credit building, debt consolidation, tax credits and other financial counseling. (3). This partnership between CSC and HACLA brings together information and tools to clients at the public assistance program. This outcome also, can links our clients to housing assistance programs.

Creating a pathway to financial stability workshop

On November 08, 2016 Asset Building and Financial Management Program at Chinatown Service Center hosted a workshop for Ability First clients and hosted at El Segundo, CA at their DirectTV location of operations. On November 10, 2016 ABFMP at CSC hosted another workshop for Ability First clients was hosted at Chino, CA at their Quetico Quetico CA at their Quetico location of operations.
The main focus was to emphasize on the importance of tracking spending’s and the importance of creating a budget. Clients learned how to minimize spending utilizing budget sheet. The workshop also provided educational information of how to save and the importance of saving for Emergency.

ABFMP Workshop @ first republic bank

On February 26, 2016 Asset Building and Financial Management Program at Chinatown Service Center hosted a workshop. CSC had the pleasure to collaborate with Ms. Gloria Tang, Treasurer of CSC Board of Directors and Vice President of First Republic Bank (middle on photo). Our Case Manager, Ms. Claudia Godinez stated that (left on photo) Ms. Gloria and her team conducted a workshop for parents at Bridge Elementary School where the main focus was to emphasize on the importance of good saving behavior. Parents learned how to minimize spending utilizing different strategies on how to save for emergencies, education, retirement, and large purchases such as a home or a car.

The Asset Building and Financial Management Program assists clients in building, repairing, and maintaining good credit. Overall, clients will feel confident knowing they can reach long term goals by creating a financially stable home for their family.